After years of chatter and online rumors, a sequel to the cult comedy favorite "Anchorman: The Legend of Ron Burgundy" has finally come together as funnyman Will Ferrell has signed on to star again as 1970s news anchorman Ron Burgundy.

Ferrell showed up at Conan O'Brien's TBS talk show in character as Ron Burgundy on Wednesday, where after a dazzling jazz flute solo and some insulting banter with O'Brien and sidekick Andy Richter he made the announcement.

"I want to announce this to all of our friends in the Americas, Spain, Turkey and the U.K. - including England - that as of 0900 mountain time, Paramount pictures and myself … have come to terms on a sequel to 'Anchorman,'" Ferrell said to massive audience applause. "There will be a sequel."

Ferrell's "Anchorman" co-stars Steve Carell and Paul Rudd, who have both gone on to major movie success since the original hit theaters in 2004, will also return to reprise their roles as dim-witted, lamp- loving Brick Tamland and fashionable lead field reporter Brian Fantana, according Deadline.com.

"Anchorman" followed the often surreal and outrageous adventures of Burgundy, the top-rated anchorman in San Diego in the 1970s, and his gang of out-of-touch buddies as they delivered the news in the then male-dominated world of broadcasting. Their cozy careers - and Burgundy's love life - get shaken up when female anchor Veronica Corningstone, played by Christina Applegate, enters the newsroom.

"Anchorman 2? will be produced by comedy king Judd Apatow, along with Ferrell and Adam McKay's Gary Sanchez Productions. McKay will direct, while he and Ferrell will script the film. The two are still "kicking around ideas" for the sequel, according to Deadline.com.